However, once the child turns 18, they are treated as a separate individual for tax purposes. Since most 18-year-olds have no other income, they can utilise the basic exemption limit, which is currently ₹3 lakh under the new tax regime. In addition, they also get their own ₹1.25 lakh annual exemption for long-term capital gains (LTCG) on equity mutual funds, which makes investments in their name tax-efficient.
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-1024x683.jpg "Deep State Revenge? FBI Investigated Trump for Firing Comey")
